Should you accept the benefits of workers’ compensation insurance from your employer?
Workers’ compensation insurance is something that you may have received from a previous employer, but many employees don’t give much thought to this kind of insurance. While workers’ comp may benefit some, it could be a big mistake for others. Here are things you need to know about workers’ comp before you accept your employer’s offer.
How Workers’ Compensation Insurance Works
If you are working and you fall to injury or illness and can no longer work, you will receive payments from your employer for your missed time. Workers’ comp may also offer to pay for the medical bills that came from your injury or illness. How much you get, and how long you get them, are up to your employer. Sounds good, right? Well. . . maybe not.
What You Need to Know About Accepting Workers’ Comp
Most employees don’t hesitate before accepting their employer’s workers’ comp payments. In most cases, when you accept your employer’s workers’ comp, you are giving up your right to sue your employer. So it’s crucial to understand the coverage limits of the policy and know you are being covered for what you deserve before you blindly accept the benefits. If you become injured or sick, will your coverage protect you for the amount of time you will be out?
Accepting workers’ compensation is generally the most beneficial thing for you, but it’s always important to know the other side of the argument. That way, you’ll be able to make the most informed decision. At PMC Insurance Group, we’re experts on small business insurance and workers’ compensation and can help you put the proper policies in place. To learn more about getting competitive coverage for your small business clients, contact us today.
